Young investors take crypto plunge
Hyderabad: Crypto is the new black and could be here to stay. Even though the world of crypto is still volatile with no clarity on the legality of the digital asset, many youngsters are willing to take the risk, albeit with small amounts. For many, after the stock market, investing in cryptocurrency seems to be […]
Hyderabad: Crypto is the new black and could be here to stay.
Even though the world of crypto is still volatile with no clarity on the legality of the digital asset, many youngsters are willing to take the risk, albeit with small amounts. For many, after the stock market, investing in cryptocurrency seems to be the thing to do. Digital coins such as bitcoin and ethereum, and meme coins like dogecoin are a huge hit among young investors.
India has about 15 homegrown cryptocurrency exchange platforms that enable trading and selling including CoinSwitch Kuber, Zebpay, WazirX, UnoCoin, CoinDCX among others. Not only is the cryptocurrency market unpredictable and unregulated, but it is also considered highly risky. Then why is the youth so attracted to crypto? The answer is simple – higher returns.
“It gives a far bigger return compared to traditional investments,” shares a young professional, who has been investing smaller amounts in crypto for the past few months. “Putting money in the share market, especially in companies that have a good portfolio, is always a secure idea. While I do that, crypto helps me with quicker and better profits. I haven’t really invested big amounts in digital coins and I plan on increasing my stake eventually. Many of my friends invest in crypto as well,” he said.
However, for regular traders, the fascination with crypto does not make much sense. “When you invest in the stock market, you have access to check the company’s portfolio, their profit or losses for the past few years and their future prospects. Then you compare these with the current market trend and put your money in that share,” explains Sharath Kumar, who used to invest in crypto a few years back, but does not anymore. He adds, “However, crypto has no such information available. So, it all depends on your assumptions. The stock market goes up and down too, but it is not as mercurial as cryptocurrencies. With no research or future predictions, you have no ground to stand on. I cannot really trust such investments.”
Although there are people who are still sceptical about the future of crypto, there are a few who are confident that it is a good investment. Revanth Bachupalli, a city-based IT professional, who has been investing in digital coins for two years, says that crypto is more than just an investment option. “I am a techie, so I understand blockchain technology, and I did my research on it before investing. This technology is very safe and can solve many problems in terms of duplication and transparency. I accept that it is a volatile market, but it has the potential to grow exponentially,” he explains.
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